Financial Industries Correlations

FIDAX Fund

USD 18.11 0.07 0.39%

The current 90-days correlation between Financial Industries and Dreyfus Government Cash is -0.1 (i.e., Good diversification). The correlation of Financial Industries is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Financial Industries Correlation With Market

Significant diversification

The correlation between Financial Industries Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Industries Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Financial Industries Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Financial Mutual Fund

0.94	FRBAX	Regional Bank	Pair Corr
0.94	FRBCX	Regional Bank	Pair Corr
0.66	JQLMX	Multimanager Lifestyle	Pair Corr
0.75	JQLBX	Multimanager Lifestyle	Pair Corr
0.77	JQLAX	Multimanager Lifestyle	Pair Corr
0.77	JQLGX	Multimanager Lifestyle	Pair Corr
0.99	JRBFX	Regional Bank	Pair Corr
0.78	JRETX	J Hancock Ii	Pair Corr
0.99	JRGRX	Regional Bank	Pair Corr
0.75	JRLQX	Retirement Living Through	Pair Corr
0.75	JRLUX	Multi Index 2045	Pair Corr
0.76	JRLWX	Retirement Living Through	Pair Corr
0.76	JRLVX	Retirement Living Through	Pair Corr
0.76	JRLZX	Retirement Living Through	Pair Corr
0.79	JROUX	J Hancock Ii	Pair Corr
0.76	JRODX	J Hancock Ii	Pair Corr
0.7	JAAFX	Jhancock Multi Index	Pair Corr
0.71	JAAJX	Jhancock Multi Index	Pair Corr
0.7	JAAKX	Jhancock Multi Index	Pair Corr
0.67	JAAPX	Alternative Asset	Pair Corr
0.63	JRTBX	Retirement Living Through	Pair Corr
0.67	JAARX	Alternative Asset	Pair Corr
0.63	JRTDX	Multi Index 2025	Pair Corr
0.67	JRTGX	Retirement Living Through	Pair Corr
0.63	JRTFX	Retirement Living Through	Pair Corr
0.67	JAASX	Alternative Asset	Pair Corr
0.68	JRTIX	Multi Index 2030	Pair Corr
0.74	JAAVX	Jhancock Multimanager	Pair Corr
0.71	JRTKX	Retirement Living Through	Pair Corr

Related Correlations Analysis

	DVPXX	RBEXX	IVMXX	RYAQX	HUMXX	UGSDX	NUSAX	LCCXX
DVPXX		0.0	0.0	0.19	0.0	0.83	0.41	0.0	DVPXX
RBEXX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RBEXX
IVMXX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	IVMXX
RYAQX	0.19	0.0	0.0		0.0	-0.13	0.23	0.0	RYAQX
HUMXX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HUMXX
UGSDX	0.83	0.0	0.0	-0.13	0.0		0.27	0.0	UGSDX
NUSAX	0.41	0.0	0.0	0.23	0.0	0.27		0.0	NUSAX
LCCXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		LCCXX
	DVPXX	RBEXX	IVMXX	RYAQX	HUMXX	UGSDX	NUSAX	LCCXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UGSDX	+ 0.83	DVPXX
NUSAX	+ 0.41	DVPXX
NUSAX	+ 0.27	UGSDX
NUSAX	+ 0.23	RYAQX
RYAQX	+ 0.19	DVPXX
RBEXX	+ 0.0	DVPXX

High negative correlations

UGSDX	- 0.13	RYAQX
LCCXX	- 0.0	NUSAX
LCCXX	- 0.0	UGSDX
LCCXX	- 0.0	HUMXX
NUSAX	- 0.0	HUMXX
UGSDX	- 0.0	HUMXX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Industries Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Financial Industries' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DVPXX	0.03	0.01	0.00	0.34	0.00	0.00	0.00	0.00	1.01
RBEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RYAQX	0.72	0.07	0.03	(1.78)	1.31	(0.80)	1.52	(1.27)	9.56
HUMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UGSDX	0.05	0.01	0.00	(0.39)	0.00	0.00	0.00	0.00	1.03
NUSAX	0.04	0.00	0.00	0.00	0.00	0.00	0.10	0.00	1.23
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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